Magnachip Semiconductor (NYSE:MX) Rating Lowered to Sell at StockNews.com

Magnachip Semiconductor (NYSE:MX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Magnachip Semiconductor Stock Performance

NYSE MX opened at $4.01 on Friday. The business has a 50 day moving average price of $4.02 and a 200 day moving average price of $4.51. The company has a market capitalization of $148.99 million, a P/E ratio of -3.45 and a beta of 0.64. Magnachip Semiconductor has a 1-year low of $3.56 and a 1-year high of $7.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Magnachip Semiconductor in the 2nd quarter valued at about $518,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Magnachip Semiconductor in the third quarter valued at about $1,005,000. Clearline Capital LP grew its position in shares of Magnachip Semiconductor by 37.5% in the second quarter. Clearline Capital LP now owns 1,683,676 shares of the semiconductor company’s stock valued at $8,200,000 after purchasing an additional 459,365 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Magnachip Semiconductor by 91.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 102,377 shares of the semiconductor company’s stock worth $478,000 after purchasing an additional 48,767 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Magnachip Semiconductor by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 6,777 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.